Rupee may stay flat

The rupee weakened during the outgoing week, amid soft dollar supplies and dealers said the local unit could largely stay stable in the days to come.

The rupee closed firmer at 154.90 against the dollar in the interbank market on

Monday, compared with the previous closing of 154.89. On Tuesday, the local currency was little changed and ended at 154.89.dollar.

The currency market remained closed on Wednesday due to the occasions of Quiad-e-Azam Day and Christmas. It came under renewed pressure in the fourth trading session because of higher import payments.The rupee closed at 155.07 versus the greenback. On Friday, the local currency remained flat at 155.03 to the dollar.

In the open market, the rupee traded in the ranges of 154.90 and 155.20 against the dollar during the week.

Dealers said the rupee is likely to remain stable in the near-term on the back of increased foreign inflows and improvement in economic indicators.